All eyes are on Nvidia as it prepares to report its earnings. Here's what to expect

A sign for a Nvidia office building is shown in Santa Clara, Calif., Wednesday, Aug. 7, 2024. , as tech giants continue to spend heavily on the company's chips and data centers needed to train and operate their AI systems. The company is now, with its dominance as a chipmaker cementing Nvidia’s place as the poster child of the AI industry ahead of the release of its latest financial results Wednesday.

Wall Street expects the company to report second-quarter adjusted earnings of 65 cents per share on revenue of $28.74 billion, more than double what it earned in the comparable quarter one year ago, according to FactSet. In the past three quarters, revenue has more than tripled on an annual basis, with the vast majority of growth coming from the data center business.

The Santa Clara, California-based company carved out an early lead in AI applications race, in part because of founder and CEO Jensen Huang's successful bet on the chip technology used to fuel the industry. The company is no stranger to big bets. Nvidia’s invention of the graphics processor unit, or GPU, in 1999 helped spark the growth of the PC gaming market and redefined computer graphics.Copyright 2024 The Associated Press. All rights reserved.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian benchmarks mostly decline as markets await Nvidia earningsAsian shares are trading mostly lower, despite a record high on Wall Street, as investors awaited a closely watched earnings report from Nvidia.
Source: wjxt4 - 🏆 246. / 63 Read more »

Chip delays, AI demand in focus in Wednesday's market-moving Nvidia earningsEarnings from bellwether Nvidia could play a pivotal role in the ongoing AI narrative, and decipher where a volatile market goes from here.
Source: CNBC - 🏆 12. / 72 Read more »

Stocks are little changed as Dow hovers near record highs: Live updatesInvestors were awaiting Nvidia's earnings, due out after Wednesday's closing bell.
Source: CNBC - 🏆 12. / 72 Read more »

Analysis of Nvidia's stock chart ahead of the big earnings reportTodd Gordon breaks down the stock chart on Nvidia and how he is investing accordingly.
Source: CNBC - 🏆 12. / 72 Read more »